The Federal Reserve is spending $40 billion a month to keep mortgage rates low to encourage Americans to buy homes, which may be benefiting the banks more than buyers, according to the Washington Post.

Both banks, however, are facing several lawsuits: This week, Wells Fargo was served a federal lawsuit for "recklessly issuing mortgages backed by a federal insurance program," and last week, New York Attorney General Eric Schneiderman filed a civil lawsuit against JP Morgan over alleged fraud in selling mortgage-backed securities.